TMI Blog2019 (2) TMI 1635X X X X Extracts X X X X X X X X Extracts X X X X ..... alty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income. The entire penalty proceedings are, therefore, vitiated and no penalty is leviable .See M/S SSA'S EMERALD MEADOWS [ 2016 (8) TMI 1145 - SC ORDER] - Decided in favour of assessee. - ITA. No. 3539 & 3540/Del./2015 - - - Dated:- 6-2-2019 - SHRI BHAVNES ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the particulars of your income or furnished inaccurate particulars of such income in terms of explanation 1, 2, 3, 4 and 5. 3.1. He has submitted that similarly in A.Y. 2011- 2012, A.O. has issued show cause notice Dated 26.03.2014 before levy of the penalty in which the A.O. has mentioned as under : Have concealed the particulars of your income or furnished inaccurate par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the matter. The A.O. issued show cause notices Dated 28.08.2014 (A.Y. 2-010- 2011) Dated 26.03.2014 (A.Y. 2011-2012) before levy of the penalty against the assessee in which the A.O. has recorded as under : Have concealed the particulars of your income or furnished inaccurate particulars of such income in terms of explanation 1, 2, 3, 4 and 5. 5.1. These facts, therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el./2016 vide Order Dated 16.05.2018, by following the aforecited decisions of Hon ble Karnataka High Court and Hon ble Supreme Court, set aside the Order of the authorities below and cancelled the penalty. Respectfully following the decision of the Coordinate Bench of the Tribunal (supra) and Judgment of Hon ble Karnataka High Court in the case CIT vs. M/s. SSAs Emerald Meadows (supra) which has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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